Jeanne Fleming and Leonard Schwarz, Who Gets Dad's Money?, Forbes, Nov. 8, 2010.
Jeanne Fleming and Leonard Schwarz write about the intersection of money, personal relationships, and ethics. One of their readers inherited money from her father. Her brother inherited the other half. Since the reader doesn't have any children, her brother expects her to leave her money to his children. However, she's not very fond of her nephews and asked Jeanne and Leonard for advice. We're asking simply, would they automatically expect to help care for their aunt as she grew old? If the answer to that question is anything short of "absolutely," then they and their father have no business expecting you to leave them your money. Family loyalty is a two-way street, not a one-way obligation."
Jeanne Fleming and Leonard Schwarz write about the intersection of money, personal relationships, and ethics. One of their readers inherited money from her father. Her brother inherited the other half. Since the reader doesn't have any children, her brother expects her to leave her money to his children. However, she's not very fond of her nephews and asked Jeanne and Leonard for advice. We're asking simply, would they automatically expect to help care for their aunt as she grew old? If the answer to that question is anything short of "absolutely," then they and their father have no business expecting you to leave them your money. Family loyalty is a two-way street, not a one-way obligation."
Click here to read the entire article.
Hat tip: Wills, Trust & Estates Prof Blog
Posted by Yi Song, Associate Editor, Wealth Strategies Journal.
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